OPINION, P2 EXPRESS ADDA Second-class citizens? IDEA EXCHANGE Kenji Hiramatsu WILDLIFE CONSERVATIONIST AND HERPETOLOGIST ROMULUS WHITAKER ‘I believe that touching a snake opens people’s minds and changes it forever’ Page 4 ACROSSTHEAISLE, P CHIDAMBARAM Vol II No. 370 Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM ‘In this very rapidly changing world, we need a real and trusted friend. And that’s India for us’ Page 8 SPOTLIGHT HIGH ON TEA MUMBAI SUNDAY, JUNE 3, 2018 12 Pages, `10 LEISURE THE JOYRIDE CLUB From state-of-the-art rollercoasters to flying theatres, theme parks in the country are going all out to woo the well-travelled Indian. The growth, however, is slow and the challenges aplenty Page 9 WORDSWORTH ADIRTY WORLD Extensive research and a fair assessment of the waste problem in Waste of a Nation: Garbage and Growth in India points to the next big crisis facing the nation Page 5 FINANCIALEXPRESS ON SUNDAY PUBLISHED FROM:AHMEDABAD, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI, PUNE PTI RECRUITMENT MARKET MNC in-house centres the new tech job hubs ● While Indian IT hiring drops, global majors are recruiting more and more PRADEESH CHANDRAN Bengaluru, June 2 UPS AND DOWNS GIC hiring (Numbers) 2015-2016 40,000 – 60,000 2016-2017 IT-BPM hiring (Numbers ) 2016-2017 1,70,000 2017-2018 60,000 – 80,000 1,50,000 2017-2018 2018-2019 (projection) 1,10,000 – 1,40,000 Source: Kelly Services 1,00,000 Source: Nasscom SOFTWARE SERVICES EXPORTERS in India may be employing fewer people each passing year because of growing automation, but hiring is on full steam by global majors like Standard Chartered, Barclays, Shell, etc, who are increasingly either setting up orexpandingtheircaptivecentres — global in-house centres (GICs) — in India. Some perspective comes from figures.As per Nasscom, theIndianIT-BPMindustrycreatedaround1.7lakhnewjobsin FY17,which went down to 1.5 lakhinFY18.Theprojectionfor FY19isdownto1lakh.Contrast thiswiththehiringtrendinthe GICs.Asperindustryestimates, the GICs in India added around 110,000-140,000 employees QuickPicks Summit with North Korea’s Kim on, says Trump US PRESIDENT Donald Trump on Friday declared that his on-and-off summit with North Korean leader Kim Jong Un was on again, reports AP. The announcement came after Trump hosted a senior North Korean envoy at the White House and he delivered a personal letter from Kim, which was inside a white envelope nearly as large as a folded newspaper. Care Ratings downgrades `6,900-cr Andhra Bank bonds RATINGS AGENCY Care Ratings has downgraded stateowned Andhra Bank's debt instruments worth `6,900 crore with a negative outlook, the lender said on Saturday in a regulatory filing, reports fe Bureau in Mumbai. Among the instruments downgraded were the bank's `1,000-crore Basel II-compliant lower-tier II bonds programme. ODD & EVEN ROHNIT PHORE in FY18 against around 60,000-80,000 in FY17. ArecentstudybyITindustry bodyNasscomandBain&Companysaysthereareabout1,100 GICs in India employing more than 8 lakh individuals and generating approximately $23 billion in revenue annually. Recently, Standard Chartered, which employs over 3,300 people in its GIC in India, announced plans to increase the strength to 6,000. Banking major Barclays is also expanding its GIC presence in Pune by opening a new centre with capacity for 8,000 people. Similarly, US-based home improvement chain Lowe’s,oil major Shell are some companies that have already announced plans for increasing the employee strength at The omnipresent virtual assistants ● All smartphones now have a virtual assistant installed in them. How lucrative is this for marketers? ANIRBAN ROY CHOUDHURY Mumbai, June 2 VOICE COULD BE the next big technology revolution in the world, and tech giants like Google, Amazon, Apple, Microsoft and others are investing heavily in it. There are already several tools that listen to people and respond like a human being and the growing use of Google Assistant, Alexa, Siri, Cortana and other virtual assistants is certain to catch the eye of marketers. These assistants are always with the person or the family they are assisting, and every time someone interacts with them, they collect data and save it. “It is all about data. Essentially, the more data they have aboutyou,thebettertheyknow youandthebettertheyareable to sell insights about you to marketers,” says Sanchit Vir Gogia, chief analyst, founder andCEO,GreyhoundResearch. “Brands and merchants can useAlexa skills as an additional engagement channel for their goods and services, like Zomato to order food online or Ola to book a ride. Brands can also provide added benefits to their customers,” shares Puneesh Kumar, country manager, Alexa experience and devices, Amazon India. In its recent report, global technology market analyst firm Canalys rated smart speakersasthefastestgrowing consumer technology segment, with year-on-year growth of 210% in the first quarter of calendaryear 2018. Continued on Page 3 ON TUESDAY ‘THE RISE OF VIRTUAL ASSISTANTS' BKC set to get glitzier, but when? Clubs,hotels,malls,theatres — many projects on cards,but none near completion ROUHAN SHARMA Mumbai, June 2 ALREADY A BUZZING business districtbydayandanentertainment hotspot by night,the fun factor at Mumbai’s Bandra Kurla Complex (BKC) is set to be cranked up several notches.But there’s a catch.Several exciting properties, including a movie theatre, a mall, a convention centreandhigh-endhotels,proposed for the area are nowhere nearcompletion,andbythelook of things, the public is in for a longwait. FE has learnt that the construction of a 200-car drive-in movietheatreanda500,000sq ft mall at the premium Maker Maxity office complex has slowed down, as the builders, READ TO LEAD There’s a great thrust on exotic and premium teas in the country today Pages 6-7 Compared to central business districts worldwide, office space is still pretty cheap. This is because the place is yet to catch up with respect to entertainment FILE PHOTO Indian Film Combine (IFC) — a joint venture between the Maker Group and Reliance Industries (RIL) — have not yet handedovertheproposeddriveintotheoperator,PVRCinemas, for them to do their fit-outs. Along with the drive-in and the mall,IFC is also building a highend private club and hotels — The Bellagio, MGM Grand and Skylofts hotels — all brands belonging to American global hospitality and entertainment chain MGM Resorts International, owners of the famed MGM Macau resort and casino. However, the proposed properties in Mumbai will be non-gaming versions of these brands. The showstopper— RIL’s 7million square feet Dhirubhai Ambani International Convention & Exhibition Centre (DAICEC) in the heart of BKC — is also under construction. In addition to conventions and exhibitions, the complex will haveservicedapartmentsanda mall. However, an auditorium for live performances built on thelinesoftheDolbyTheatrein Hollywood, Los Angeles, will surelysteal the show. Continued on Page 3 their centres. “On the hiring front,we are seeinganuptickacrossourGIC customers by about 20-25% in 2018.We are also seeing hiring amongst our financial shared services customers rise by about 20%,”said Thammaiah B, managing director at Kelly Services India. “In the early days of outsourcing, it was just the cost arbitrage that companies were looking for. Now,theyare looking formore value.The growing talent base is the major reason for global majors wanting their technology and R&D centres to be set up in India,”he added. As per Zinnov, one of the many reasons for this trend is the growth in setting up of ‘centers of excellence (CoE)’, as well as increased number of newer functions out of India. ManyGICsareusingIndian R&D centres for niche activities and also use of new technologylikeAI andVR.“Another reason is that as now technology is getting more complex, MNCswant theircritical functions to stay in-house rather than outsource them,” said Preeti Anand, director & practice head, engineering excellence,Zinnov. In Gandhi’s memory PM Narendra Modi unveils a plaque marking the immersion site of Mahatma Gandhi’s ashes at Clifford Pier in Singapore on Saturday. The PM also met US defence secretary Jim Mattis during the day to discuss security issues Telecom subscribers try a new Idea RISHI RANJAN KALA New Delhi, June 2 IDEA CELLULAR SEEMS to be givingstiffcompetitiontorivals in the current calendar year in terms of customer acquisition, with the country’s third-largest telecom operator topping the subscriber addition charts for three months in a row till April, Cellular Operators Association of India (COAI) data shows. AsperCOAI,Ideatoppedthe chartsbyadding4.4million,9.1 million and 5.6 million subscribersduringFebruary,March andApril this year,respectively. The additions are the highest among the top three incumbents.Incomparison,BhartiAirteladded4.2million,8.4million and4.5millionsubscribersduring the same three months. Vodafone India added 4.2 millionand8.4millionduringFeb- ruary and March, respectively, but lost 0.7 million subscribers duringApril. Although the Aditya Birla Group company trailed Bharti and Vodafone in subscriber additioninJanuary,thegapwas marginal.Bharti added 1.5 million during the month, while Vodafoneadded1.3millionand Idea 1.1 million. Continued on Page 3
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